(1)There shall be for each Panchayat, a fund called Panchayat Fund.(2)The following shall form part of, or be paid into the Panchayat Fund, namely:-(a)the amount which may be granted or passed on to the Panchayat by the Government or the Zilla Panchayat under the provisions of this Act or any other Act, or on any other account;(b)the proceeds of any tax, rate and fee imposed by the Panchayat;(c)all sums received by the Panchayat by way of loans or contributions from the Government or any other authority or person or by way of gift;(d)the rent or other income from, or sale proceeds of any immovable or movable property owned by or vesting in the Panchayat; and(e)all other sums received from any source whatsoever.(3)The amounts at the credit of the Panchayat Fund shall be kept in any Scheduled Bank or a Co-operative Bank situated in the Panchayat area or the neighbouring Panchayat area.
